All Forum Posts by: Justine Ricketts

 Own 10 properties and use the equity you have as a line of credit to buy more and cash flow like crazy 

Flipping is awesome, but it will suck all of your time. It’s a full time job dealing with contractors, finding the next deal, waiting for money. If there’s no deal there’s no income. If you love the chase it’s the lifestyle for you 

 I have a rolodex of contractors, lenders, etc for the Cincinnati, Columbus, and Cleveland Area. Ill DM you.

Unless you have a REALLY good team. I would recommend doing a flip much closer to home or at least an area you know well. (Like the 'local" vacation area. 

Other areas of real estate are easier to invest from a distance. Flipping, really requires you to hit a lot of marks correctly. And without a lot of experience or a big and trusted team, it is much easier to do this in a market you are familiar with. Persaonlly I would not go much farther than a 2 hour drive.

@Justine Ricketts, the markets and areas you know.  I know a lot of people have done out of state flips, but I don't know how, especially in the current market environment.  

There is so much demand for investment property, that margins are much tighter than they were a couple years ago, so therefore a lot less room for error.  With flips, those errors come from unknown market risks, contractor quality risks, materials and labor costs and timelines, interest rate (if financing) but also on exit, etc.

When you have a team in place, and have done a lot of flips, you can better control some of those risks, but if it were me, I was just starting, I didn't have any team in place, I would only invest locally, since I know the markets very well, and I can better control contractors (even though I don't have a set team) by showing up on sight almost daily.